Sega says it’s eyeing further acquisitions, not looking to sell up

Sega is targeting more acquisitions and not looking to sell up, despite interest from “many” companies.

That’s according to chief operating officer Shuji Utsumi, who discussed the Japanese publisher’s recent acquisition of Angry Bird maker Rovio, as well as reports that Xbox maker Microsoft was interested in buying Sega, during an interview with CNBC.

“As an entity of Sega Sammy, we are acquiring some of the companies. We just made an announcement [to buy Rovio]. We are still looking for opportunities for growth,” he said.

Legal documents published earlier this revealed that in November 2020, Xbox boss Phil Spencer requested approval from Microsoft’s CEO to approach Sega Sammy about buying its gaming studios.

At the time, Spencer described Sonic firm Sega as Xbox’s “most attractive next acquisition target due to its global PC catalog, presence on mobile in Asia, and global brand affinity on console through its classic IP”.

“Many companies are interested. We feel honored,” Utsumi told CNBC.

“We have attractive IPs and potentials. Companies owned by the owner. A strong owner. I don’t think that kind of transaction is going to happen.”

Following the success of its Sonic movies, Utsumi also said Sega wants to expand the reach of its other biggest franchises, like Persona and Yakuza, beyond video games.